Quiet European Trading as Focus Turns to US CPI and Middle East Tensions
European markets saw subdued activity as traders monitored geopolitical developments in the Middle East and await key US inflation data later today.
Price action remained muted during the European mid-market session, with attention split between simmering Middle East tensions and the elusive prospect of diplomatic agreements. Market participants are also positioning ahead of the release of US CPI figures later in the day, which could provide direction for currency markets.
The dollar held steady, while major crosses traded in narrow ranges. The lack of fresh catalysts left traders cautious, and flows were largely order-driven rather than directional.
Geopolitical risks continue to linger, but no breakthrough on ceasefire talks has been reported, leaving markets in a wait-and-see mode.
Source: FXStreet Forex News